Jess Daley carded the round of the day as he fired an 8-under 64. He stands at 15-under-par 201 to jump from a share of 19th to a tie for second. He is joined there by Brandt Snedeker (67) and Chad Collins (68).
Jimmy Walker, a two-time winner this season, moved into a tie for fifth at minus-14 after a round of 7-under 65. He stands alongside David McKenzie, Andrew McLardy, Paul Gow and Nathan Green.
Ott was passed early in the round as he opened with six consecutive pars to start his round. The 34-year-old got on the board as he dropped in a birdie at the par-4 seventh.
Ott, a two-time runner up, moved to minus-13 when he birdied the par-5 11th. He came back two holes later with the third birdie of his round, this one from 30 feet out. Ott closed his round with a 15-foot birdie putt at the par-5 last to close a bogey-free round and reclaim the lead.
'I'm letting the putter do the talking this week,' said Ott, who currently stands 89th on the money list. 'I started feeling comfortable with it this morning on the practice green. It is kind of making its way into my heart. I'll just do the best I can Sunday. I haven't had that many great final rounds.'
The 26-year-old Daley carded three birdies and one bogey over his opening nine holes to move to nine-under. Daley then birdied the 11th, before back-to-back birdies from the 13th. He closed his round with three straight birdies to jump into second place.
'I got a little fired up after the bogey on the seventh hole,' said Daley. 'Today I felt like I was playing alright from the start. But finishing up the way I did was nice. Sunday is a big day. I can't wait. I'll play as aggressive as I can without being silly.'
Collins collected four birdies to go along with three bogeys over his first 12 holes at Highland Springs Country Club. He picked up three birdies over his final four holes to jump to 15 under.
Snedeker, who turned professional earlier this summer, ran off three straight birdies from the third to jump to 13 under. He wrapped bogeys at the seventh and ninth around a birdie at the eighth. He picked up three more birdies on his inward nine to grab a share of second place.
Walker moved into contention with his 65. If he goes on to win, Walker would earn the Battlefield Promotion to the PGA Tour. Walker ran off four birdies over his first five holes to start his round.
After a dropped shot at the eighth, Walker fought back to birdie the ninth. He picked up another birdie at the 13th and closed with back-to-back birdies from the 17th to get to 14 under.
'I'm going out to win a golf tournament whether it is the first, second or third one,' said Walker, who won the Panama and Louisiana Opens earlier this year. 'I'll be running and gunning for it tomorrow.'
Robert Garrigus, Fran Quinn, Tom Scherrer and Brent Schwarzrock share 10th place at 13-under-par 203. Eduardo Herrera, Jeff Gove, Greg Bruckner and Dave Stockton, Jr. are one stroke further back at minus-12.